One of the toughest things any business owner or executive can experience is being stuck in a business strategy dilemma. It’s paralyzing and frustrating, and it can seem impossible to make a decision. But here’s the good news: You’re not alone. And there are ways to work through this.
Is your business penny wise and pound foolish? Sometimes making penny wise decisions with your business can lead to being pound foolish in the long run. You may be able to save a little money in the short term, but if it means sacrificing essential functions or investments in your company, you could be doing more harm than good.
Leaders cannot duck or bury their faces in the mud when making tough calls at work. Leadership is tested when selling unpopular decisions to the team. How do you do that? “My way or the highway” does not work. It gets you obedience, not acceptance. Do you use popular opinion as a work around? Can you?
We make too many decisions at the eleventh hour. The urgency and the pressure to decide quite often lead to incorrect decisions. When we look back at our decisions, we find out that some arguments were never made. Some doubts were never discussed. Volunteer to be the Devil in the next meeting and improve decision making.
Our judgement, reactions and actions are influenced by our instincts and bias. Our experiences and learnings influence our instincts and bias. In life and at work, perception bias affects our judgement. Most of the times, we do not realize the implications of perception bias. Here are 3 tips to minimize the effects of bias.